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RESEARCH METHODOLGY IN BUSINESS
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INTRODUCTIONWhat is Business Research? It is a systematic inquiry that provides information toguide managerial decisions. It is a process of planning, acquiring, analyzing anddisseminating relevant data and information and insights to decision makers inways that mobilize the organization to take appropriate actions that, in turn,maximize business performance.
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INTRODUCTIONPlanning Drives Business Research Goals: Decision on goals Decision SupportSystem: Need to complete one or many exchanges (numerous elements of data,organized for retrieval) Business Intelligence System: is designed to provide themanager with ongoing information about events & trends. Strategy: the generalapproach an organization will follow to achieve its goal. Tactics: Specifictimed activities that execute a strategy.
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INTRODUCTION
Purpose of Business Research To identify and define opportunities and problems. To define, monitor, andrefine strategies To define, monitor, and refine tactics
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TYPES OF RESEARCHERS Custom Designed Research/Full-service research: Crafts a research design uniqueto the decision makers dilemma. Proprietary Methodology Researchers: A researchprogram owned by a single firm. It may be a slight twist on an establishedmethodology or may be developed by that firm. Specialty Research Firms:represent the largest number of research firms and tend to dominate the smallresearch firms operated by a single researcher or very small staff. These firmsmay establish a specialty in one or several arenas: Process Industry
Participant group
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TYPES OF RESEARCHERS
Syndicated Data Providers: Tracks the change of one or more measures over time,usually in a given industry. Omnibus Researchers: An omnibus researcher fieldsresearch studies, often by survey, at regular, predetermined intervals. An omnibusstudy combines one or a few questions from several decision makers who needinformation from the same population.
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Research Report Components
Prefatory Items Introduction Methodology Findings Conclusions Bibliography
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Prefatory Items
Letter of Transmittal Title Page Authorization Letter Executive Summary Table ofContents
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Introduction
Problem Statement Research Objectives Background
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Methodology
Sampling Design Research Design Data Collection Data Analysis
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RESEARCH DESIGN
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THE RESEARCH PROCESS
Define the problem Define the research objective Choose data sources Chooseresearch methods Construct sample Set budget and deadlines Undertake researchAnalysis and evaluation
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THE RESEARCH DESIGNRESEARCH DESIGN
EXPLORATORY RESEARCH DESIGN
CONCLUSIVE RESEARCH DESIGN
DESCRIPTIVE RESEARCH
CAUSAL RESEARCH
CROSS-SECTIONAL DESIGN
LONGITUDINAL DESIGN
SINGLE CROSS-SECTIONAL DESIGN
MULTIPLE CROSS-SECTIONAL DESIGN
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EXPLORATORY RESEARCH
OBJECTIVE: DISCOVER IDEAS & INSIGHTS CHARACTERISTICS: FLEXIBLE, VERSATILE METHODS: EXPERT SURVEYS PILOT SURVEYS SECONDARY DATA (Qualitatively analyzed) QUALITATIVE RESEARCH
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SECONDARY DATA (Qualitatively analyzed PRIMARY DATA: Data originated by a researcher for the specific purpose ofaddressing the research problem. Included among primary sources are interviews,speeches etc SECONDARY DATA: Data collected for some purpose other than theproblem at hand. Included among secondary data are reports available in thelibraries/ internet, magazines, newspapers etc.
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ADVANTAGES OF SECONDARY DATA
Easily Accessible Relatively Inexpensive Quickly Obtained Better define theproblem Formulate an appropriate research design
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DISADVANTAGES OF SECONDARY DATA
Usefulness to the current problem may be limited Irrelevant Inaccurate
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Classification of Secondary data
Internal Data:Ready to Use Requires further processing
External Data:Published Materials Computerized Database Syndicated Services
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Qualitative Research Procedures
Direct
Indirect
Focus Group
Depth Interviews
Projective Techniques
Association Techniques
Completion Techniques
Construction Techniques
Expressive Techniques
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FOCUS GROUP INTERVIEWS
Unstructured Free Flowing Group Interview Start with Broad Topic and focus in onSpecific issues
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Advantages:
Economical Quicker Results in New Ideas usually
Disadvantages:
Moderators need to be well trained Results may be influenced by the moderatorsDominant personalities may take over group
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DEPTH INTERVIEWSCharacteristics: UnstructuredDirect Personal Interview
Techniques:
Laddering Hidden Issues Symbolic Analysis
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Advantages:
Brings out Information clearly Flexibility
Disadvantages:
Interviewer Bias Longer Time Involved Costs Involved Difficulty in Interpretation
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PROJECTIVE TECHNIQUES Characteristics: UnstructuredIndirect form of Questioning
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DEGREE OF PROBLEM DEFINITION
Exploratory Research (Unaware of Problem)
Conclusive Research (Aware of Problem)
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Vague Problem
Exploratory Research
Hypothesis
Conclusive Research
Decision
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CONCLUSIVE RESEARCH
OBJECTIVE: EVALUATING ANS SELECTING BEST COURSE OF ACTION CHARACTERISTICS: FORMALAND STRUCTURED INFORMATION NEEDED IS CLEARLY DEFINED SAMPLE IS LARGE
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DESCRIPTIVE RESEARCH OBJECTIVE: DESCRIBE MARKET CHARACTERISTICS OR FUNCTIONS CHARACTERISTICS:PREPLANNED & STRUCTURED DESIGNS LARGE SAMPLE SIZE
METHODS: SURVEYS OBSERVATIONAL
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SURVEY METHODS
Telephonic Interviewing Personal Interviewing Mail Interviewing ElectronicInterviewing
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OBSERVATION METHODS
Structured & Unstructured Observation Disguised & Undisguised Observation Natural& Contrived Observation
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CROSS SECTIONAL DESIGN
INCLUDES:
SINGLE CROSS SECTIONAL DESIGN MULTIPLE CROSS SECTIONAL DESIGN
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CAUSAL RESEARCH
OBJECTIVE: TO OBTAIN EVIDENCE REGARDING CAUSE - EFFECT RELATIONSHIPCHARACTERSTICS: PLANNED & STRUCTURED DESIGN
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ATTITUDE MEASUREMENT
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PRIMARY SCALES OF MEASUREMENT
Nominal Scale Ordinal Scale Interval Scale Ratio Scale
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SCALING
THE GENERATION OF A CONTINUM UPON WHICH MEASURED OBJECTS ARE LOCATED
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SCALING TECHNIQUES
COMPARATIVE SCALE
NON COMPARATIVE SCALES
CONTINOUS RATING SCALE
ITEMIZED RATING SCALE
PAIRED COMPARISON CONSTANT SUM LIKERT
RANK ORDERQ - SORT
SEMANTIC DIFFERENTIAL
STAPEL
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SAMPLING TECHNIQUES
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SAMPLE
A SUBGROUP OF THE ELEMENT OF THE POPULATION SECLECTED FOR PARTICIPATION IN THESTUDY
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SAMPLING TECHNIQUES
NON - PROBABILITY
PROBABILITY
SIMPLE RANDOM SAMPLING CONVENIENCE SAMPLING STRATIFIED SAMPLING
QUOTA SAMPLING JUDGMENTAL SAMPLING
SNOWBALL SAMPLING
SYSTEMATIC SAMPLING CLUSTER SAMPLING
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SAMPLING DESIGN PROCESS
Define Target Population Determine Sampling Frame Select a Sampling TechniquesDetermine Sample Size Execute the Sampling Process
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QUESTIONNAIRE CONSTRUCTION AND DATA COLLECTION
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QUESTIONNAIRE DESIGN PROCESSSpecify the information needed Specify the type of interviewing method Determinethe content of individual questions Design the questions to overcome therespondents inability & unwilling to answer Design on question structure Determinethe question wording Arrange the question in proper order Identify the form &layout Reproduce the Questionnaire Eliminate bugs by pretesting
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Determine the Content of Individual Questions
Is the Question necessary Are Several Questions needed instead of one
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Overcoming Inability to Answer
Is the Respondent Informed Can the Respondent Remember
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Choosing Question Structure
Unstructured Questions Structured Questions
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Choosing Question Wording
Define the Issue Use Ordinary Words Use Unambiguous Words
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